Tom Lee's Bitmine Buys $14M in Ethereum as Cash Falls to $104M

Ethereum treasury institution Bitmine Immersion Technologies said Monday it bought 7,391 ETH implicit the past week, worthy astir $14 million, taking its holdings to 5,805,238 ETH arsenic of Friday evening. The institution bought 10,399 ETH the week before.

Total crypto, currency and what the steadfast calls "moonshot" investments came to $11.6 billion, up from $11.3 billion. Most of that summation came from price, with ETH up 2.6% implicit the week to $1,928, adding astir $280 cardinal to the worth of a stack that grew by $14 cardinal successful purchases.

The firm's currency presumption continues to thin, with currency and marketable securities lasting astatine $104 million, down from the $173 cardinal it reported a week earlier and $482 cardinal the institution reported for July 12—a diminution of 78% successful a month. Alongside the ETH, Bitmine holds 209 Bitcoin, a $180 cardinal involvement successful Beast Industries and $69 cardinal of Eightco Holdings.

Bitmine repurchased 3 cardinal shares implicit the week, down from 4.5 million, bringing the full to 19.1 cardinal since July 1 nether a $4 cardinal authorization. Chairman Tom Lee said the institution "continues to presumption Bitmine's communal shares arsenic undervalued," and called the programme the largest executed by immoderate crypto treasury company.

Staking present covers 5,067,309 ETH, oregon 87% of holdings, up from 85% a week earlier. Lee enactment projected annualized staking gross astatine $257 million, based connected a seven-day output of 2.63%.

The past 4%

Bitmine's stack is 4.8% of Ethereum's 120.7 cardinal supply, and the institution again described itself arsenic 96% of the mode to its "Alchemy of 5%" target, the aforesaid fig it gave a week agone and the 5th consecutive week astatine 4.8%. Reaching 5% would instrumentality astir 229,800 much ETH, oregon astir 31 weeks astatine past week's rate.

The steadfast has bought ETH each week since starting the strategy connected June 30, 2025. It picked up $214 cardinal worthy successful June during a selloff Lee called "superficial," added $49 cardinal successful July connected aboriginal request for Robinhood Chain, past eased disconnected aboriginal that period earlier passing 5.79 cardinal ETH.

Lee said helium was "disappointed" the Clarity Act would not scope a Senate ballot earlier the August recess, but pointed to softer ostentation and jobs data, putting the likelihood of a September Federal Reserve hike astatine 40%, down from 75% a fortnight ago. Those likelihood person since risen to 46%, according to CME FedWatch.